Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: SPACs face new threat from SEC, WeWork promotes CEO to chairman, and AMC eyes more strategic deals after stake in Hycroft
SPACs Face Fresh SEC Legal Threat for Overly Bullish Forecasts
SPAC sponsors who embellish projections about the companies they plan to take public face a new threat in a plan from the U.S. Securities and Exchange Commission.
Wall Street’s main regulator will propose curbing the legal protections that some blank-check companies have relied on to make bullish forward-looking statements about the firms they plan to merge with, according to people familiar with the matter who requested anonymity because the plan is not yet public. The regulation, set to be released on Wednesday as part of a broader set of SPAC rules, would clarify that investors can sue over inaccurate special purpose acquisition company forecasts.
READWeWork Board Promotes CEO to Chairman and Adds a SoftBank Partner to Board
WeWork Inc. (NYSE:WE) appointed a new board member from SoftBank Group Corp. to replace the seat held by the investor’s former operating chief, Marcelo Claure. In addition, WeWork Chief Executive Officer Sandeep Mathrani was also named as chairman, a position formerly held by Claure.
The new director is Saurabh Jalan, a partner at SoftBank Group International. Jalan has worked at the Japanese conglomerate since 2015 and now oversees large global investments including SoftBank’s stakes in WeWork, T-Mobile US and Deutsche Telekom AG, according to a statement from WeWork.
BowX Acquisition Corp. secured shareholder approval of its combination with WeWork in October.
READAMC Entertainment Eyeing More Strategic Deals After Stake in Hycroft
AMC Entertainment (NYSE:AMC) has stated that it was planning more “transformational” deals in the merger and acquisition space. Indicating a future roadmap, AMC Entertainment CEO Adam Aron said that the company would be making more strategic investments in other firms as it did for Hycroft (NASDAQ:HYMC). The announcement has come after AMC invested $28 million in Hycroft, a gold and silver miner.
Earlier this month, Hycroft has said that AMC would invest $27.9 million in cash in Hycroft to acquire its 23.4 million units. Hycroft went public only in 2020 through a merger with Mudrick Capital Acquisition Corporation.
READWallbox Announces Nationwide Partnership with City Electric Supply
Wallbox (NYSE:WBX), a leading provider of electric vehicle (EV) charging and energy management solutions worldwide, today announced a partnership with City Electric Supply (CES). Under this partnership, the family-owned electrical wholesale distributor has officially started to sell the 48 Amp version of Wallbox’s award-winning smart home EV charger, Pulsar Plus, along with its Smart Power Meters and Pedestals online and in over 535 stores nationwide.
Kensington Capital Acquisition Corp. II completed its combination with electric vehicle (EV) charging station provider Wallbox on September 30, 2021.
READRed Sox Become First Carbon Neutral Fan Experience in Baseball with Aspiration
The Boston Red Sox, one of the best-loved sports franchises in the world, and Aspiration, the global leader in sustainability as a service, today announced that they have created a historic partnership to neutralize the greenhouse gas emissions of Red Sox fans attending games at Fenway Park in Boston, MA, through Aspiration’s Sustainable Impact Services and Planet Protection feature. Aspiration will serve as the official sustainability provider for the team in a deal that will mark the Red Sox as a climate leader in Major League Baseball.
Aspiration recently entered into a merger agreement with InterPrivate III Financial Partners Inc. (NYSE: IPVF), a publicly-traded special purpose acquisition company.
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Globa Terra Acquisition Corporation (NASDAQ:GTERU) announced the pricing of its $152 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “GTERU”, Wednesday, July 9, 2025. The new SPAC plans to mount a search for a target in the agriculture, agtech or biotech sectors with an emphasis on water...
M3-Brigade V (NASDAQ:MBAV) has entered into a definitive agreement to combine with crypto treasury firm ReserveOne, assembling about $1 billion in equity funding. ReserveOne is setting up a diversified Bitcoin and digital asset treasury with a portion of its investments going towards blockchain infrastructure and venture raises. The combined company is expected to trade on...
At the SPAC of Dawn As the SPAC market has warmed in 2025, only 21 of the 70 SPACs (30%) that have IPO’d thus far have overfunded their trusts to draw in investors and none of these funded to more than 101%. By contrast, 87% of 2023 SPACs were overfunded – some to as high...
Emmis Acquisition Corporation (NASDAQ:EMISU) has filed for a $100 million SPAC to take a look at the manufacturing sector after a few unique wrinkles in their IPO process. Initial investors are set to receive one right to a 1/10 share in each unit purchased and the SPAC will have 18 months to complete a business...
Chenghe III (NASDAQ:CHEC.U) has filed for a $110 million SPAC to continue the team’s growing series while turning to a new underwriter. The new SPAC is offering investors a 1/2 warrant in each unit and no overfunding of the trust, but it will need to complete a business combination within 18 months of its IPO...